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Common Ground News

When was ZOPA founded?

Author

Penelope Carter

Updated on March 01, 2026

When was ZOPA founded?

Zopa / Founded March 2005, United Kingdom

Similarly one may ask, is ZOPA a real bank?

Zopa is a British financial services company which began as the world's first peer-to-peer lending company in 2005 and later gained a banking licence.

Additionally, who runs Zopa? Giles Andrews

Likewise, are ZOPA any good?

Highly recommend Zopa

Excellent experience using Zopa, easy to apply, money received promptly and they keep you posted every step of the way, including a congratulations when your loan is all paid!! I would highly recommend using this company for loans and will do so again myself, if the need arises!

Is Zopa bank safe?

With the Zopa Fixed Term Savings account you can save from 1 to 5 years. These accounts are very safe as your money is protected by the FSCS (Financial Services Compensation Scheme) up to £85,000.

How many customers does Zopa?

400,000 customers

Is Zopa ISA flexible?

Is the Zopa IFISA flexible? Yes, it is. This means you can withdraw and then re-add funds to your IFISA within a tax year without using up more of your ISA allowance.

What is Zopa company?

Zopa Limited provides financial services. The Company offers lending, borrowing, savings, and other financial services. Zopa serves customers in the United Kingdom.

What does Zopa pre approved mean?

Being pre-approved for our credit card means that we're confident we can say “yes”, pending some final ID and fraud checks. We might still ask you to send us documents to prove your identity, income or bank account. To see if we can pre-approve you, we'll only perform a soft search.

Can you pay back a Zopa loan early?

Yes, if you want to pay off your loan early, we don't charge early repayment fees or any extra interest for the reminder of your loan's original term.

How long does it take for a Zopa loan to be approved?

We may need you to confirm some extra details like your income or identity. You'll be able to do this quickly online. We might also need to review your application manually. Once that's all done, we'll give you a decision in 2-3 working days.

Does ZOPA affect your credit rating?

No, it won't affect your credit score. If you check your credit report elsewhere, you'll see a soft search from Zopa every month which won't impact your ability to get credit. The only time you'll see a hard search on your credit report is if you apply for a loan in your eligibility tab.

Does ZOPA credit card have a monthly fee?

We charge two fees – a missed payment fee of £12 if you don't make your minimum monthly payment on time, and a cash withdrawal fee of £3 for each cash withdrawal from an ATM. It's really important to talk to us if you've missed a payment for your Zopa credit card or are worried you might.

Are Zopa loans secured?

Although the majority of our loans are unsecured, less than 10% are secured car loans. Our secured car finance borrowers fall into our A and B risk categories.

Is ZOPA a credit card?

Credit cards – Check your eligibility – Apply online – Zopa. This credit card is managed exclusively via the Zopa app so it's with you 24/7 – available on iOS or Android.

Is Zopa contactless?

If it's your first in-person spend using the Zopa credit card, you'll need to use Chip and PIN to show it's you. Afterwards, you'll be able to use contactless up to £45.

Why is ZOPA on my credit report?

Why is there a Zopa soft search on my credit file when I haven't applied for a loan or credit card with you? When you apply for a Zopa loan, we search your credit file to check that the loan is affordable. If you haven't applied for a Zopa loan or credit card, we still might appear on your credit file.

Can you have 2 Zopa loans?

Yes, you can. To consolidate one or more existing Zopa loans. As with your original loan, the application will be subject to our normal credit checks and you can only borrow up to the maximum loan allowance out of £25,000. For example: If you borrowed £5,000, you have up to £20,000 left to borrow.

Is Zopa covered by FSCS?

The Zopa Fixed Term Savings Account offers a competitive rate over 1-5 years at a time when rates are at a historic low. The account can be opened in as little as 7 minutes online and is protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.

Who are shawbrook bank part of?

Shawbrook Group plc

Which savings account is best UK?

  • RCI Bank 3 Year Fixed Term Savings Account.
  • Paragon 2 Year Fixed Rate Savings Account.
  • Paragon 1 Year Fixed Rate Savings Account.
  • Yorkshire Building Society Six Access e-Saver ISA Issue 5.
  • Yorkshire Building Society Internet Saver Plus (Issue 8)
  • Investec Online Flexi Saver.
  • RCI Bank 1 Year Fixed Term Savings Account.

How do I withdraw money from Zopa?

How do I withdraw money from my Zopa holding account?
  1. Once you're logged in, select the 'Access money' button.
  2. Click 'Withdraw' and then enter the amount to be withdrawn on the next screen.
  3. Once done, your money should arrive back with you within 3 to 4 working days.

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